There have been Bitcoin ETF proposals being submitted since 2014. It's the same story over and over again but there seems to be increased pressure to make it happen. People have made wild price predictions saying Bitcoin will go to $1 Million within a week. I don't believe that will happen but I think it will start the bull run early if this thing actually rolls out in 2024. The boomer generation holds the majority of the wealth in the United States and most of them have been very uncomfortable when it comes to investing in crypto currencies. Even though it doesn't seem like that hard of a thing to sign up for a Coinbase, Gemini, or Kraken account they don't trust it. My dad has been saying they are going to ban Bitcoin for over 10 years. Super annoying but once there is an ETF suddenly then they will be comfortable and late to the party in some respects but I do think there will be a lot of capital inflows. I don't think the narrative of people could just buy Microstrategy to be a quasi Bitcoin ETF really holds much weight. When there is a true spot Bitcoin ETF the boomers will throw money at it.
#bitcoin #cryptocurrencies #etf #ethereum #dogecoin
